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How DDoS attack crippled a stock exchange By Bloomberg By Jamie Tarabay The website of the New Zealand Stock Exchange slowed to a crawl on a Tuesday afternoon in August. It was so badly throttled that the exchange couldn't post market announcements, as required by financial regulators. So with an hour left for trading, management shut the entire operation down. It didn't take long to figure out what happened. The website had been overwhelmed by a tsunami of offshore digital traffic. An email from the perpetrators made clear that it was a malicious attack. NZX Ltd, which operates the exchange...

How A Dated Cyber-Attack Brought A Stock Exchange To Its Knees How A Dated Cyber-Attack Brought A Stock Exchange To Its Knees The New Zealand Stock Exchange website had been overwhelmed by a tsunami of offshore digital traffic. An email from the perpetrators made clear that it was a malicious attack. NZX was hit with the cyber equivalent of a mugging, a crude and dated style of hack. The website of the New Zealand Stock Exchange slowed to a crawl on a Tuesday afternoon in August. It was so badly throttled that the exchange couldn't post market announcements, as required by financial regul...

DDoS attacks, the cyber equivalent of being mugged, grow in size and sophistication

The website of the New Zealand Stock Exchange slowed to a crawl on a Tuesday afternoon in August. It was so badly throttled that the exchange couldn’t post market announcements, as required by financial regulators.

Get Permission New Zealand’s financial regulator has issued a searing report about IT security failures at NZX, the country’s stock exchange, that contributed to a disruptive DDoS attack. The Financial Markets Authority says in a new report that NZX lacked sufficient technology resources and had inadequate IT security, including poor network design and unprotected infrastructure. The stock market also suffered from cultural problems, including “a lack of willingness to accept fault,” the authority says. NZX officials couldn’t immediately be reached for comment on the regulator's ...